Thai Family Restaurant; Gross $900K, Net 216K, SBA ava at $430, OC

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Thai Family Cuisines; Revenue $900K, Hi-Income 216K, SBA ava at $430, O/C

Business Description

> The high-income Thai Cuisine Family Restaurant offering health-gourmet Thai dishes. Beer and wine license included.
> Situated in a midsize strip mall and in a dynamic medical hub which many hospitals and clinics are scattered in the neighborhood, are surrounded by diverse clinics, popular resort facilities, offices, retail stores and residential homes.
> Open 6 days a week. Closed every Tuesday.
> The restaurant has steadily increased sales and net profit over the years and is still growing due to the advantage of its key location.
> A hot spot where most lunch breakers and nearby workers can easily fix lunch at affordable prices, and in the evenings, local customers enjoy dining out with their families.
> In recent years, additional catering and delivery orders account for about one-fifth of revenue and contribute significantly to sales growth and net profits.
> Thai cuisine, because of its use of herbs and veggies, is widely known as an authentic Asian health food for the neighbors who want to enjoy healthy meals.
> Here is a quick summary of the actual operations and financial information;
• Gross turnover is $75,000/m, including approx. $12,000-$15,000 online catering
• Net income is anywhere between $18,000 and $20,000/m on average
• Cost of goods sold including supplies is as low as 24%. It’s a hi-income possible business structure
• Beer & Wine served
• Rent is $6,500 including NNN/CAM
• Restaurant sizes are approx. 2500 sq. ft. plus 1000 sq. ft. covered patio
• Lease remains 5 + 5
• Open for 6 days only. Closed on Tuesdays
• Short hours are from 11 am to 10 pm, and till 11 pm on weekend
• Employees: 4 full-times and 2 part-times work
• 2 Owners and one more familly work full-time alternatively, and they receive extra pays which are not included in the net income, so buyer can expect extra income than posted if he/she work the same way
• Wages including payroll taxes are about $18,000 except for 2 owner's pay
• Sales taxes paid for are approx. $4,000/mo
• Parking spaces in front and more in the shopping center
• SBA loan is available with a 30% down. With $120,000 down payment, approx $2,671 installment per month will be repaid over 10 years at 7.75% annum
• To get SBA loan and/or lease approval, buyers must prove financial statement, 680+ FICO, sufficient down payment in the bank account seasoned more than 90 days and at least 2 years similar business experience or ownership of restaurant
• For your prompt inquiry, online pdf. NDA is conveniently attached. Sign and resend
• For more information, contact Kevin Kim.

About the Business

Location:
Garden Grove, California
Year Established:
2014
Number of Employees:
6
Real Estate:
Leased
Building Sq. Ft.:
2,500
Rent:
$6,500.00 Per Month
Lease Expiration:
3/31/2031
Facilities:
Fully equipped kitchen, Covered outdoor patio, Beer & wine offered, 3 woks, Oven, Freezers, Coolers, Dessret dispenser, POS, TV set
Market Outlook/
Competition:
Nearby restaurants: Chinese buffet, Japanese Sushi, Franchise restaurants, etc.
Contact the Seller

About the Sale

Reason For Selling:
Another business ventures Chinese buffet,
Training/Support:
One week prior to closing and one more week after closing
Seller Financing:
N/A. SBA loan available

Listing Info

ID:
1627616
Ad Detail Views:
0

Attached Files Attachment Disclaimer

  NDA(Non-disclosure Agreement) (275 KB)
Download


Asking Price:
$430,000

Gross Revenue:
$900,000
Cash Flow:
$216,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$7,500
not included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Listed by

Kevin Kim

Bee Realty Group
License# 01922126

 Show Phone Number

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